TARIFFS IMPOSED ON WASHING MACHINES AND SOLAR PANELS BY US




Hassam Hameed-TDO-24.01.2018- ‘America first’ policy has pushed US to impose extra tariffs on washing machines and solar panels, in quest to help local manufactures like ‘Whirlpool’ from foreign competitors. South Korea and China criticized the move, as companies in these respective countries would be most affected.

US International Trade commission(ITC) found foreign competitors to have a negative impact on sales of US manufacturers in local market. Washing machines being imported under the number of 1.2 million will face 20% tariff whereas numbers above that will face tariffs of 50%, though by third year tariffs will come down to 16% and 40%. Although solar cells and modules will face tariffs of 30%, decreasing to 15% by fourth year. ITC said that subsidies provided by chinese government have led to an artificial decrease of prices for Chinese solar components, which is disrupting the market.

South Korea and China will launch a complaint to World Trade Organization(WTO). South Korean Samsung said the tariffs are "a tax on every consumer who wants to buy a washing machine". Beijing Spokesperson, Wang Hejun, expressed “dissatisfaction” with the move.